COMPANY NEWS

AMOCO AND SHELL OIL FORM PRODUCTION PARTNERSHIP

Published: February 26, 1997

The Amoco Corporation said yesterday that it had formed a limited partnership with the Shell Oil Company, a unit of Royal Dutch/Shell Group, to operate their combined oil and gas producing assets in the Permian Basin of West Texas and southeast New Mexico. The companies signed a deal to create Altura Energy Ltd., which they said would be the largest oil producer in Texas and the third-largest in the country. Amoco will own about 64 percent of Altura.